Law on goods safeguard, values and persons protection

Description

RBA wants to propose an amendment to the law on persons' protection, and on the safeguard of goods and valuables in order to change some aspects related to the approval and observance of the safeguard plans.

Impact Drivers

• Public: to improve organizational structure and reduce operational costs

• Private: to optimize the trade off between banks' security and cost of regulation

Economics

All bank branches have to comply with the law requirements. Over 4000 units at the end of July 2006. The growth rate of the banking network is of 24% year(July 2006 to July 2005).

SPI Committee Involvement

To keep under senior oversight the impact of the current regulatory framework on the banks' efficiency with a view to reach an acceptable regulatory cost-benefit balance. Additional information SPI Committee.

Management

Terms of Reference

• TOR

Regulatory Impact Assessment

• RIA

SPI Committee Enactment Documents

• SPI Committee Meeting Status Report - July 25, 2007

• SPI Committee Meeting Status Report - April 27,2007

Technical Documents

• Comparative table for Law Amendment Proposals
• Principles for amending the law